Other Income (Expense), Net (Tables)

3 Months Ended

Mar. 01, 2026

Other Income and Expenses [Abstract]

Schedule of other nonoperating income (expense)

The following table summarizes significant components of “Other income (expense), net”:


	Three Months Ended
	March 1, 2026		March 2, 2025

	(Dollars in millions)
Foreign exchange management gains (losses)(1)	$	5.6	$	(10.8)
Foreign currency transaction (losses) gain(2)	(5.5)		2.2
Marketable securities losses	(0.7)		(5.2)
Legal settlement gain (3)	33.0		—
Other, net	10.2		9.7
Total other income (expense), net	$	42.6	$	(4.1)

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(1)Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. For the three months ended March 1, 2026, gains were primarily due to currency fluctuations relative to negotiated contract rates on positions to buy the Australian dollar. For the three months ended March 2, 2025, losses were primarily due to currency fluctuations relative to negotiated contract rates on positions to buy the Euro.

(2)Foreign currency transaction gains and losses reflect the impact of currency fluctuations on the Company's foreign currency denominated balances. For the three months ended March 1, 2026, losses were primarily due to the impact of U.S. dollar weakening against the Euro, Australian dollar, and Mexican peso. For the three months ended March 2, 2025, gains were primarily due to the impact of U.S. dollar strengthening against the Euro.

(3)During the three months ended March 1, 2026 the Company recognized a gain related to a trademark infringement legal settlement.